Asian Paints Re-appoints Milind Sarwate as Independent Director for 5 Years
Asian Paints has re-appointed Mr. Milind Sarwate as an Independent Director for a second five-year term, from October 21, 2026, to October 20, 2031. This re-appointment is subject to shareholder approval at the 80th Annual General Meeting. Mr. Sarwate is a seasoned professional with extensive experience in finance and governance.
The re-appointment of an existing independent director is a routine governance matter and is unlikely to have a significant immediate impact on the company's operations or financials.
The re-appointment of an experienced Independent Director for a second term is generally viewed positively as it indicates stability and continued governance oversight.
Asian Paints Limited announced that its Board of Directors, upon the recommendation of the Nomination and Remuneration Committee, has unanimously approved the re-appointment of Mr. Milind Sarwate (DIN: 00109854) as an Independent Director. This re-appointment is for a second term of five consecutive years, commencing from 21st October 2026 to 20th October 2031.
The re-appointment is subject to the approval of the shareholders of the Company at the upcoming 80th Annual General Meeting.
Mr. Milind Sarwate is not related to any Directors, Key Managerial Personnel, or members of the Promoter(s) & Promoter(s) Group of the Company. He meets the criteria of independence as prescribed under the Companies Act, 2013, and Listing Regulations, and has not been debarred from holding the office of a Director by any authority. He is also not disqualified under Section 164 of the Companies Act, 2013.
The Board meeting commenced at 11:00 am IST and concluded at 4:40 pm IST on Friday, 29th May 2026.
Mr. Milind Sarwate, aged 66 years, is a Chartered Accountant, Cost Accountant, and Company Secretary with over four decades of experience in finance, governance, audit, risk management, and strategy. He holds a Bachelor's degree in Commerce (Honours) and was a participant in the Fulbright-CII Fellowship for Leadership in Management. He currently serves on the boards of several companies, including Asian Paints Limited, CEAT Limited, and Mahindra & Mahindra Financial Services Limited. He is also the Founder and Designated Partner of Increate Value Advisors LLP and related entities. His professional focus is on board and governance roles, with advisory and mentoring engagements in business and social value creation. He previously held leadership roles in consumer product companies like Godrej Consumer Products Limited and Marico Limited. Mr. Sarwate has received several accolades, including the ICAI Award 2011 for CFO - FMCG sector and induction into the CFO India Hall of Fame in 2013.
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Asian Paints Limited filed this with the NSE as a statutory disclosure, categorised under board changes. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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